The Fondation Hugot du Collège de France was created in 1979 thanks to a bequest made by Hélène and Jean-Pierre Hugot to the Collège de France. Recognized as an autonomous establishment of public utility by a Conseil d'Etat decree of June 7, 1979, its vocation, in the words of the donors' will, is to promote "the meeting of the various disciplines that work towards the knowledge, training and fulfillment of man" by helping to bring together "the best minds animated by this same concern".

The Hugot Foundation supports the activities of the Collège de France by awarding prizes, granting subsidies for colloquia, cultural events and publications, organizing research seminars and film shoots on its premises, and hosting foreign professors invited by the Assembly.

In 2001, the Board of Directors of the Hugot Foundation, which is chaired by the Administrator of the Collège de France, decided to create The Hugot Foundation Award at the Collège de France. The two prizewinners are chosen from among researchers applying for renewal of their post as ATER or associate lecturer at the Collège de France. The disciplines awarded vary from year to year. Each prize is worth 3,000 euros, paid by the Hugot Foundation, and is accompanied by a bronze medal from the Collège de France.